NicolaContext
What is the narrative for a successful 2024 for the Filecoin network?
What would the network be proud to have achieved looking back this year?
What this is:
- A narrative is a successful story that we want to see happening this year
- A set of proposal to derive this year priorities for the protocol
What this is not:
- This list is not a cast in stone, it is our best understanding, our intuitions can change
- This is not representative of every stakeholder, but it is an opinionated summary based on interviews, intuition and understanding from members of the FilOz team
This document lists the upgrades that I would like to see in the next year and the narratives around it.
Narratives
Simple onboard of data of any size (Filecoin Bundlers)
Goal
Anyone should be able to experience storing data into Filecoin using a wallet and a non-proprietary protocol.
Problem
Currently storing data into Filecoin is complex, especially for those storing less than 32GiB, this set of upgrades will make make it possible to have a simple API that can enable smaller deals with SP.
High level plan
Design a standard interface for deal-making that operates via a layer 2.
What does this enable?
- Better experience to store data into Filecoin
- Simpler APIs for developers
- Blockchain data archival
Documents
Filecoin Aggregation Architecture
A disk for smart contracts
Goal
Filecoin should be the default storage for large data in smart contract and smart contract can use data stored on Filecoin.
Problem
- Data stored in Filecoin cannot be used in smart contracts
- It is not possible to store data in Filecoin directly from Ethereum
High level plan
Celestia introduced Blobstore Bridge to store blobdata from Ethereum smart contracts (L2) into Celestia DA layer. We are introducing a larger storage blob.
- Store data from Smart Contracts via Disk Bridge
- Use data in smart contracts via Filecoin Data Access Proofs and Disk Bridge
What does this enable?
- Smart contract for long term storage
- Key Value store on Filecoin
Data Updates
Goal
Storage brokers and providers can update and delete data in a sector with
Problem
- Clients want to be able to delete data
- Storage brokers can’t sell storage that can’t offer data deletion to institutional clients
High level plan
These set of upgrades allow for updating data (by replacing it or removing it). This set of changes
What does this enable?
- Drive/Cloud solution where users pay for their storage allocation
- Cheaper storage costs
Filecoin Native Delegated Staking
Goal
Allow any token holder to stake Filecoin to secure the network
Problem
Filecoin token holders currently can only support storage providers by providing collateral for SPs to cover for their faults and the network caps this at 30%.
High level plan
The goal is to allow token holders to stake in pools (that are not controlled by a multisig and subject to smart contract risk) or directly to storage provider (without custom software)
Path 1: Redesign QAP
Currently QAP has some issues that must be resolved, while redesigning it, we can address general staking
Path 2: Create a new form of staking (different from pledging)
Introducing staking, token holders can stake their tokens with SPs as a way to multiply their power - in a way that does not alter the pledge function (note: self adjusted such that only 30% of the tokens are at stake).
Shifting Protocol Revenue from Gas Fees to Storage Utility Fees
Gas wars across L1 will lead to gas fees to go to zero. The idea is to introduce a new fee - different from gas - based on the utility that SP get from providing their services through Filecoin.
This fee is paid off from block rewards when new sectors are added, updated and removed.